I found this fractal correlation with two past BTC bull cycles which give out the same numbers.
This is the higher resolution one that is still available.
So far so good - Let's see what happens!
This is the higher resolution one that is still available.
So far so good - Let's see what happens!
Commento:
The big bearish dump move was defeated by breaking price high's resistance line all the way down from ATH.
More precise speculation for the end of September:
Price at the moment of writing is 3965 and according to my local estimate it won't go higher than 4100, resulting in a small local bear trend down between 3700-3600 level where there's big unbroken support. Meeting this support even stronger will likely defeat the morale of the macro bear camp completely as the last ones will have to let go of bearish projections.
There's fundamental reasons to be bearish until the end of the month with China exchange ban, but I'm personally keeping in mind that there will be still two of them up and running and therefore the remaining Chinese capital can still keep circulating within crypto economy.
Likely outcome of the scenario in my mind is that it'll have minimal effect to the markets apart from end of the month - And as the calendar turns October and nothing major negative happens the sentiment will turn largely bullish with the above strong support witnessed still being there on the bottom.
Next month speculation for possible events to justify above chart:
First week next month will likely bring the price to 4200 around where it will eventually stabilize.
LedgerX is likely to start offering Bitcoin futures for US institutional traders, which I expect to be a huge liquidity and volume boost that will start with a strong accumulation period breaking the previous ATH towards the end of the month.
This could effectively negate remaining two Chinese exchanges shutting down both in terms of bearish sentiment and with actual replacing liquidity that the global market is going to lose from China.
So far so good - Let's see what happens!
DISCLAIMER:
I'm looking at the charts and thinking about plausible & probable events that could make the chart progress the way it's shown above. This is not evidence based speculation, but instead looking for evidence to justify projection. Don't trust anyone. Do your own research. Come up with your own conclusions.
Thanks for reading!
More precise speculation for the end of September:
Price at the moment of writing is 3965 and according to my local estimate it won't go higher than 4100, resulting in a small local bear trend down between 3700-3600 level where there's big unbroken support. Meeting this support even stronger will likely defeat the morale of the macro bear camp completely as the last ones will have to let go of bearish projections.
There's fundamental reasons to be bearish until the end of the month with China exchange ban, but I'm personally keeping in mind that there will be still two of them up and running and therefore the remaining Chinese capital can still keep circulating within crypto economy.
Likely outcome of the scenario in my mind is that it'll have minimal effect to the markets apart from end of the month - And as the calendar turns October and nothing major negative happens the sentiment will turn largely bullish with the above strong support witnessed still being there on the bottom.
Next month speculation for possible events to justify above chart:
First week next month will likely bring the price to 4200 around where it will eventually stabilize.
LedgerX is likely to start offering Bitcoin futures for US institutional traders, which I expect to be a huge liquidity and volume boost that will start with a strong accumulation period breaking the previous ATH towards the end of the month.
This could effectively negate remaining two Chinese exchanges shutting down both in terms of bearish sentiment and with actual replacing liquidity that the global market is going to lose from China.
So far so good - Let's see what happens!
DISCLAIMER:
I'm looking at the charts and thinking about plausible & probable events that could make the chart progress the way it's shown above. This is not evidence based speculation, but instead looking for evidence to justify projection. Don't trust anyone. Do your own research. Come up with your own conclusions.
Thanks for reading!
Commento:
Local anomalies aside the patterns are still matching. Much wow.
If it keeps parity, the prediction would be that ATH resistance on 5k will be brief and sell resistance would build up to 7k when the herds scream new ATH and start dumping.
A drop from 7k would stop around 5.5k support as you can compare from the chart.
So far so good - Let's see what happens!
REMEMBER that this is only a pattern correlation and when uncoupled severely, it will no longer serve any prediction value.
If it keeps parity, the prediction would be that ATH resistance on 5k will be brief and sell resistance would build up to 7k when the herds scream new ATH and start dumping.
A drop from 7k would stop around 5.5k support as you can compare from the chart.
So far so good - Let's see what happens!
REMEMBER that this is only a pattern correlation and when uncoupled severely, it will no longer serve any prediction value.
Commento:
I'm putting longs in today in anticipation of a big move upwards!
Good luck everyone!
Good luck everyone!
Commento:
Pardon all for the white drawing on the left chart, it was not meant to depict anything substantial other than hastily drawn "up it goes".
Look at the pattern instead :)
Look at the pattern instead :)
From this analysis point of view and closer up regional analysis I've done without posting a separate idea for that analysis, this pattern shouldn't give anything less than 3500 as the lowest price before the resistance line from 5000 peak is broken.
However as we can see from many instances on the patterns above, the charts always differ in some local anomalies from current market conditions from each given time. Therefore it is also possible for the market to escape the pattern for a while, but as you can see looking above examples from already correlated events, the general rhythm and form of the pattern at large remain the same.